Clarus Corporation (NASDAQ:CLAR) Stock Has Average Target Price of $4.06 According to Brokerages

Clarus Corporation (NASDAQ:CLAR) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.06.

Several analysts have commented on the stock. B. Riley Financial lifted their price objective on shares of Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Monday, August 10th. Roth Capital upped their price objective on shares of Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Clarus from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a report on Monday, August 31st.

Clarus Stock Up 0.3%

Clarus stock opened at $3.91 on Wednesday. The stock has a 50-day moving average price of $3.62 and a 200 day moving average price of $3.26. Clarus has a 52 week low of $2.53 and a 52 week high of $3.97.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.25. The business had revenue of $56.16 million during the quarter, compared to analyst estimates of $51.54 million. Research analysts anticipate that Clarus will post 0.26 EPS for the current year.

Clarus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were issued a $0.0250 dividend. This represents a $0.10 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th.

Hedge Funds Weigh In On Clarus

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Clarus in the 2nd quarter valued at about $1,454,000. Gamco Investors INC. ET AL boosted its stake in shares of Clarus by 11.1% in the first quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company’s stock worth $952,000 after buying an additional 35,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Clarus in the second quarter worth about $652,000. Bank of New York Mellon Corp purchased a new stake in shares of Clarus in the second quarter worth about $557,000. Finally, Squarepoint Ops LLC grew its holdings in Clarus by 88.8% during the second quarter. Squarepoint Ops LLC now owns 127,426 shares of the company’s stock worth $401,000 after acquiring an additional 59,922 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities.

Clarus’s portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.